Auto sales show steady growth for 2nd month in a row

Puerto Rico new auto sales held on to positive results for the second consecutive month in May, when some 6,828 units were sold, representing a 4.3 percent growth, the United Automobile Importers Group (known as GUIA by its Spanish acronym) informed Tuesday.

In April, auto sales showed a 25.4 percent growth, fueled by an increase in vehicle fleets, the trade group said.

So far this year, auto sales have improved by 0.8 perecent, GUIA confirmed.

“May is the second consecutive month of growth and that has not happened since August 2013. Also, as it happened in April, the fleet segment experienced growth again [in May], specifically 13.4 percent, compared to May last year, which contributed to the increase in sales this month,” said Said Ricardo M. Garcia, president of the organization.

“Collectively for the year, the vehicle fleet market has experienced a total growth of 13.3 percent, while retail sales remain in negative territory with -0.3 percent,” he said.

“As we have been indicating, given the aggressiveness of offers from dealers, low interest rates, and cheaper gasoline prices than recent years, it remains one of the best times to get a new vehicle. We hope this pattern continues,” García said.

GUIA is an independent, nonprofit organization, created in 2006 to address issues that are directly related to the automotive industry, and the general economy of Puerto Rico. GUIA members represent more than 96 percent of new vehicle sales in Puerto Rico.